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Amazon named #1 Company Where Americans Want to Work
by Daniel Newman | May 3, 2021

The Six Five team discusses the LinkedIn ranking of Amazon as the top place where Americans want to work.

Check out the clip below:

If you are interested in watching the full episode you can check it out here.

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Transcript:

Patrick Moorhead: Let’s talk about Amazon. Two things I want to talk about here. We want to talk about earnings. We also want to talk about them getting ranked the top place where Americans want to work, by LinkedIn. Maybe I hit the word of work and you hit the earnings, Daniel. Why don’t you kick this off?

Daniel Newman: Sure thing, Pat. The numbers are just astounding. We’re talking 108 billion, not for the year, for the quarter. You’re talking about 15.79 in earnings versus just about nine expected. This is what I was talking about when we were at the top of the show, Pat. Was, it’s gotten to the point now where we’re not only beating, we’re destroying. This has happened across the board. We saw it with AMD. We saw it with Apple. We saw it with Amazon. And then everywhere else where it wasn’t destroyed, it was just a really, really significant beat. Amazon really is doing everything right. I’ve got an op-ed that should be out in the next couple of days. I’m really looking at this because the thing about when you’re growing this fast and you’ve gotten this big, we talk a lot about law of large numbers here on the show is, can it continue?

We had 44% growth. They did a 108 billion, 104 expected. A year ago, they only did 60 something, in this quarter. That’s the delta. By the way, that’s a big number, too, is where does that growth stop? What I’m really focusing on is where does invention and innovation and then support for doing the right things come into place. You’ll talk a little more about the doing the right things when I turn it over to you. But, let’s just talk about invention because people go, “Well, how can the company grow anymore?” The company can grow more because it continues to innovate and disrupt in every category that it decides to participate. You’ve got the 50 something percent growth in AWS. By the way, $54 billion run rate from their Cloud business and their Cloud business is small in terms of its revenue.

It’s been large in terms of its operating income. And it’s participated to the company’s ability to grow and invest. But, that investment seems to happen anywhere and everywhere. They’re growing in Europe. They’re growing worldwide. They’re growing significantly domestically. They’re expediting shipping. 2009 was the first time they did same day shipping. Now they’re doing same day on orders after 5:00 PM. They’re able to offer that included for Prime members. You’ve got scout. They’ve got drones driving around the streets, delivering stuff. They’re innovating and inventing consistently. Let’s look at other things. Amazon pharmacy. Now, they’re going to offer 80% discount on generic drugs delivered to your door in two days for no extra charge. They’re going to compete with the CVSs, they’re going to compete with the Walgreens, and they’re going to do it effectively.

You got Amazon Wardrobe. You want Stitch Fix? Nah, you don’t need Stitch Fix. You got Amazon. And then you start to add and diversify. By the way, devices, some of the most innovative devices through Ring and through Echo. They’re going in people’s homes. They’re getting better. They’re building chips that it actually derived higher levels of inference. People are now talking to devices in their home. Everybody’s got a smart doorbell. Well, not everybody. It feels like everybody. I’ll just leave it on one last thing. Studios. Everyone talks about Apple TV and everyone talks about Netflix. Amazon Studios had 10 Academy Award nominations and 12 Golden Globe nominations this year. They, legitimately, are innovating and inventing, diversifying and adding to every category. And Pat, by the way, I could go on and talk about a whole slew of things they’re doing on ESG and diversity and inclusion. But, I’m going to leave that for you because my darn molecule leaving behaviors have gotten so poor lately.

Patrick Moorhead: We’re all good. I suck the oxygen out of the room on some topics. You thank me back for that. One big award, that I think was a shocker to those people who don’t truly understand Amazon, was that, for the US, LinkedIn was voted the number one company where Americans want to work. No, that is not a typo. Out of LinkedIn’s 740 million members, the US folks said it was number one. The reason why I say that’s incredible, and you have to understand Amazon is, Amazon gets more heat than any other company I’m aware of for what it does. There’s memes on taxes. There’s memes on jobs. There’s memes on salaries and benefits. Amazon already is paying its workers a minimum wage of $15, which Bernie Sanders says should be the minimum wage. They’re providing healthcare benefits, as well.

And in a recent news story, Amazon employees at a specific warehouse voted down by 70 to 30%, the desire to unionize. I think, at some point, the meme starts to have to go back to Amazon is a very successful company. Let’s not punish them or think they’re bad because they make a lot of money. They do pay taxes and make investments based upon what is, essentially, thrust upon them. They do these. They play by the rules. But, I think the memes need to start changing to, Amazon helps a lot of people. They employed 450,000 more people than before the pandemic. Think about that 450,000 people. They’re way ahead of the Paris Accord by 10 years. And it’s not just them. They’re pulling other companies into it. I think the number is at a hundred, right now-

Daniel Newman: 105.

Patrick Moorhead: Some of the leaders in different areas like Proctor and Gamble.

Daniel Newman: Your Microsoft.

Patrick Moorhead: Yeah. They’re leading in so many areas. I think it’s just time to, everybody take a deep breath and look at their record. Yes, their founder is the richest man on the planet. That does not make them bad. Amazon employees, some of them are getting very rich. That doesn’t make them bad or a bad company. Call out bad behavior where it’s there. Denying Pgate. That was not handled correctly. I’ll call out Amazon on stuff that I don’t agree with myself. I don’t get passionate about this, at all. But, their own employees, LinkedIn, best place to work. I rest my case.

Daniel Newman: Yeah, absolutely, Pat. You hit a lot of it on the head. I know we’ve got to wrap this show up in just a few moments. I can go on and on. I’ll I’ll put my op-ed in the link as soon as I have it. You’ll see it. I’ve talked a lot about this. We’ve talked a lot about not punishing a company for being successful. But, like you said, great point, Pat. Punish them for the behavior. If they’re doing certain things bad, whether you’re a hundred-billion-dollar quarter company or a hundred-thousand-dollar quarter company, you should be called out for those types of things.

Daniel Newman